QuantaSing Announces Unaudited Financial Results for the Second Quarter of Fiscal Year 2025
QuantaSing Group (NASDAQ: QSG) reported its Q2 FY2025 financial results, showing mixed performance during its strategic transition. Revenue decreased to RMB726.6 million (US$99.6 million), down 25.9% year-over-year, while net income increased 17.8% to RMB126.8 million (US$17.4 million).
Key highlights include:
- Individual online learning services revenue declined 31.2% to RMB601.3 million
- Consumer business revenue grew 39% to RMB64.5 million
- Total registered users increased 24.2% to 139.6 million
- Cash position strengthened to RMB1,213.2 million
The company is executing a strategic shift from traffic-driven growth to high-quality growth, focusing on the silver economy market. QuantaSing also announced ongoing share repurchase program progress, with 1.7 million ADSs repurchased for US$3.6 million, and strategic investment in Letsvan, a PRC-based IP incubation company.
QuantaSing Group (NASDAQ: QSG) ha riportato i risultati finanziari del secondo trimestre dell'anno fiscale 2025, evidenziando una performance mista durante la sua transizione strategica. I ricavi sono diminuiti a RMB726,6 milioni (US$99,6 milioni), in calo del 25,9% rispetto all'anno precedente, mentre l'utile netto è aumentato del 17,8% a RMB126,8 milioni (US$17,4 milioni).
I punti salienti includono:
- I ricavi dei servizi di apprendimento online individuali sono diminuiti del 31,2% a RMB601,3 milioni
- I ricavi del settore consumer sono cresciuti del 39% a RMB64,5 milioni
- Il numero totale di utenti registrati è aumentato del 24,2% a 139,6 milioni
- La posizione di cassa si è rafforzata a RMB1.213,2 milioni
L'azienda sta attuando un cambiamento strategico da una crescita guidata dal traffico a una crescita di alta qualità, concentrandosi sul mercato della silver economy. QuantaSing ha anche annunciato progressi nel programma di riacquisto delle azioni, con 1,7 milioni di ADS riacquistati per US$3,6 milioni, e un investimento strategico in Letsvan, un'azienda di incubazione di IP con sede nella RPC.
QuantaSing Group (NASDAQ: QSG) reportó sus resultados financieros del segundo trimestre del año fiscal 2025, mostrando un rendimiento mixto durante su transición estratégica. Los ingresos disminuyeron a RMB726.6 millones (US$99.6 millones), una caída del 25.9% en comparación con el año anterior, mientras que el ingreso neto aumentó un 17.8% a RMB126.8 millones (US$17.4 millones).
Los aspectos destacados incluyen:
- Los ingresos por servicios de aprendizaje en línea individuales disminuyeron un 31.2% a RMB601.3 millones
- Los ingresos del negocio de consumo crecieron un 39% a RMB64.5 millones
- El número total de usuarios registrados aumentó un 24.2% a 139.6 millones
- La posición de efectivo se fortaleció a RMB1,213.2 millones
La empresa está llevando a cabo un cambio estratégico de un crecimiento impulsado por el tráfico a un crecimiento de alta calidad, enfocándose en el mercado de la economía plateada. QuantaSing también anunció avances en su programa de recompra de acciones, con 1.7 millones de ADS recomprados por US$3.6 millones, y una inversión estratégica en Letsvan, una empresa de incubación de IP con sede en la RPC.
QuantaSing Group (NASDAQ: QSG)는 2025 회계연도 2분기 재무 결과를 발표하며 전략적 전환 중 혼합된 성과를 보여주었습니다. 수익은 RMB726.6백만 (US$99.6백만)으로 전년 대비 25.9% 감소했으며, 순이익은 17.8% 증가하여 RMB126.8백만 (US$17.4백만)에 달했습니다.
주요 하이라이트는 다음과 같습니다:
- 개별 온라인 학습 서비스 수익은 31.2% 감소하여 RMB601.3백만에 이르렀습니다.
- 소비자 사업 수익은 39% 증가하여 RMB64.5백만에 달했습니다.
- 총 등록 사용자 수는 24.2% 증가하여 139.6백만에 도달했습니다.
- 현금 보유액은 RMB1,213.2백만으로 강화되었습니다.
회사는 트래픽 기반 성장에서 고품질 성장으로의 전략적 전환을 실행하고 있으며, 실버 경제 시장에 집중하고 있습니다. QuantaSing은 또한 1.7백만 개의 ADS를 US$3.6백만에 재구매한 주식 재구매 프로그램 진행 상황과 중국 본사 IP 인큐베이션 회사인 Letsvan에 대한 전략적 투자를 발표했습니다.
QuantaSing Group (NASDAQ: QSG) a publié ses résultats financiers du deuxième trimestre de l'exercice 2025, montrant une performance mitigée pendant sa transition stratégique. Les revenus ont diminué à RMB726,6 millions (US$99,6 millions), en baisse de 25,9 % par rapport à l'année précédente, tandis que le bénéfice net a augmenté de 17,8 % pour atteindre RMB126,8 millions (US$17,4 millions).
Les points clés incluent :
- Les revenus des services d'apprentissage en ligne individuels ont diminué de 31,2 % à RMB601,3 millions
- Les revenus du secteur de la consommation ont augmenté de 39 % à RMB64,5 millions
- Le nombre total d'utilisateurs enregistrés a augmenté de 24,2 % pour atteindre 139,6 millions
- La position de trésorerie s'est renforcée à RMB1.213,2 millions
L'entreprise effectue un changement stratégique d'une croissance axée sur le trafic à une croissance de haute qualité, en se concentrant sur le marché de l'économie argentée. QuantaSing a également annoncé des progrès dans son programme de rachat d'actions, avec 1,7 million d'ADS rachetés pour 3,6 millions de dollars, ainsi qu'un investissement stratégique dans Letsvan, une entreprise d'incubation de propriété intellectuelle basée en RPC.
QuantaSing Group (NASDAQ: QSG) hat seine finanziellen Ergebnisse für das zweite Quartal des Geschäftsjahres 2025 veröffentlicht und zeigt eine gemischte Leistung während seines strategischen Übergangs. Der Umsatz sank auf RMB726,6 Millionen (US$99,6 Millionen), was einem Rückgang von 25,9 % im Vergleich zum Vorjahr entspricht, während der Nettogewinn um 17,8 % auf RMB126,8 Millionen (US$17,4 Millionen) stieg.
Wichtige Highlights sind:
- Der Umsatz aus individuellen Online-Lernangeboten sank um 31,2 % auf RMB601,3 Millionen
- Der Umsatz im Verbrauchergeschäft wuchs um 39 % auf RMB64,5 Millionen
- Die Gesamtzahl der registrierten Nutzer stieg um 24,2 % auf 139,6 Millionen
- Die Liquiditätsposition wurde auf RMB1.213,2 Millionen gestärkt
Das Unternehmen vollzieht einen strategischen Wandel von wachstumsorientierten Verkehr zu qualitativ hochwertigem Wachstum und konzentriert sich auf den Silbermarkt. QuantaSing kündigte auch Fortschritte im laufenden Aktienrückkaufprogramm an, bei dem 1,7 Millionen ADS für 3,6 Millionen US-Dollar zurückgekauft wurden, sowie eine strategische Investition in Letsvan, ein in der VR China ansässiges IP-Inkubationsunternehmen.
- Net income increased 17.8% YoY to RMB126.8 million
- Consumer business revenue grew 39% YoY to RMB64.5 million
- Registered users increased 24.2% to 139.6 million
- Cash position strengthened to RMB1,213.2 million from RMB1,026.3 million
- Operating expenses decreased significantly, showing improved efficiency
- Total revenue declined 25.9% YoY to RMB726.6 million
- Individual online learning services revenue dropped 31.2% YoY
- Gross billings of individual online learning decreased 42.2% YoY
- Paying learners decreased to approximately 0.3 million
Insights
QuantaSing's Q2 FY2025 results present a complex transitional picture with mixed financial metrics reflecting their strategic pivot. The 25.9% year-over-year revenue decline to
The company's core individual online learning services experienced a 31.2% year-over-year decline, now representing 82.8% of total revenue. However, QuantaSing has significantly optimized its cost structure, reducing sales and marketing expenses by
Their strategic diversification toward the silver economy (older adult market) shows early promise. The consumer business segment focused on wellness products grew
QuantaSing maintains a solid financial foundation with cash and equivalents of
This quarter demonstrates management's willingness to accept near-term revenue pressure to build a more sustainable, diversified business model with improved profitability metrics and multiple growth vectors.
BEIJING, March 11, 2025 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced its unaudited financial results for the second quarter of the fiscal year ending June 30, 2025 (the “second quarter of FY 2025”, which refers to the quarter from October 1, 2024 to December 31, 2024).
Highlights for the Second Quarter of FY 2025
- Revenues for the second quarter of FY 2025 were RMB726.6 million (US
$99.6 million ), representing a decrease of10.3% from the first quarter of the fiscal year ending June 30, 2025 (the “first quarter of FY 2025”) and a decrease of25.9% from the second quarter of the fiscal year ended June 30, 2024 (the “second quarter of FY 2024”). - Gross billings of individual online learning services1 for the second quarter of FY 2025 were RMB546.2 million (US
$74.8 million ), representing a decrease of23.5% from the first quarter of FY 2025 and a decrease of42.2% from the second quarter of FY 2024. - Net income for the second quarter of FY 2025 was RMB126.8 million (US
$17.4 million ), representing an increase of57.1% from the first quarter of FY 2025 and an increase of17.8% from the second quarter of FY 2024. - Adjusted net income2 for the second quarter of FY 2025 was RMB132.0 million (US
$18.1 million ), representing an increase of50.0% from the first quarter of FY 2025 and an increase of27.1% from the second quarter of FY 2024. - Total registered users increased by
24.2% to approximately 139.6 million as of December 31, 2024, from 112.4 million as of December 31, 2023. - Paying learners was approximately 0.3 million in the second quarter of FY 2025.
Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, commented, “Our second quarter results demonstrate our deliberate approach to business development as we execute our strategic transition. Our established online learning business continues to operate effectively, generating steady cash flow that supports our strategic initiatives. Meanwhile, our consumer business is experiencing promising growth, driven by strong demand for our health and wellness products, with a focus on the silver economy. By diversifying our revenue streams across multiple business lines while enhancing our technological capabilities, we're building a more resilient business model that can navigate market uncertainties. Our focus remains on creating long-term shareholder value through disciplined execution and selective investments in promising growth opportunities.”
Mr. Dong Xie, Chief Financial Officer of QuantaSing, added, “Our second quarter financial performance reflects our disciplined approach to business transformation. While revenue has moderated as expected during this transition, our focus on operational efficiency has enabled us to maintain a solid financial foundation. Our ongoing IT infrastructure enhancement and process optimization efforts are driving improved efficiency across our business lines. With our cash and cash equivalents, restricted cash and short-term investments of RMB1,213.2 million, we have the flexibility to carefully evaluate strategic opportunities as we navigate this transitional phase.”
Financial Results for the Second Quarter of FY 2025
Revenues
Revenues were RMB726.6 million (US
- Revenues from individual online learning services decreased by
31.2% year over year to RMB601.3 million (US$82.5 million ) in the second quarter of FY 2025, from RMB873.6 million in the second quarter of FY 2024. This decrease was primarily due to a decrease of RMB162.7 million (US$22.3 million ) in revenues from skills upgrading courses, a decline of RMB92.6 million (US$12.7 million ) in revenues from financial literacy courses and a decline of RMB17.0 million (US$2.3 million ) in revenues from recreation and leisure courses. - Revenues from enterprise services were RMB55.7 million (US
$7.6 million ) in the second quarter of FY 2025, compared to RMB57.6 million in the second quarter of FY 2024, representing a year-over-year change of3.4% , primarily due to changes in existing customers’ demands. - Revenues from consumer business3 increased to RMB64.5 million (US
$8.8 million ) in the second quarter of FY 2025, representing a39.0% increase from RMB46.4 million in the second quarter of FY 2024, driven by the Company’s expansion into wellness products. - Revenues from others3 were RMB5.1 million (US
$0.7 million ) in the second quarter of FY 2025, compared to RMB3.0 million in the second quarter of FY 2024, primarily due to revenue generated from the Company’s newly initiated business.
Cost of revenues
Cost of revenues was RMB122.5 million (US
Sales and marketing expenses
Sales and marketing expenses were RMB407.0 million (US
Research and development expenses
Research and development expenses were RMB28.4 million (US
General and administrative expenses
General and administrative expenses were RMB30.5 million (US
Net income and adjusted net income
Net income was RMB126.8 million (US
Earnings per share and adjusted earnings per share4
Basic and diluted net income per share were RMB0.78 (US
Balance Sheet
As of December 31, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB1,213.2 million (US
Recent Developments
Changes in Composition of Board
On January 21, 2025, the Company announced changes to its board of directors (the “Board”). Mr. Chenyang Wei resigned as a director effective January 21, 2025, for personal reasons. The Company appointed Mr. Shunyan Zhu as a new independent director and member of the audit committee of the Board (the “Audit Committee”), effective the same date. Following these changes, the Board consists of seven directors: Mr. Peng Li, Mr. Frank Lin, Mr. Dong Xie and Ms. Xihao Liu, and three independent directors, Mr. Hongqiang Zhao, Ms. Pei Hua (Helen) Wong and Mr. Shunyan Zhu. The Audit Committee consists of the three independent directors.
Investments in Letsvan
Through a series of transactions commencing in December 2024, the Company has invested in Shenzhen Yiqi Culture Co., Ltd. (深圳市熠起文化有限公司)(“Letsvan”), a PRC-based company primarily engaged in IP incubation and discovery, IP operation, copyright commercialization, and the promotion and sales of pop toys and other cultural products for global artists. The Company believes that such investments in Letsvan will effectively capitalize on the Company’s transferable expertise and established operational infrastructure, thereby unlocking a wider array of business opportunities. The Company expects to consummate the investments by the end of March 2025, upon which the Company will have control over and be able to consolidate the results of Letsvan into the Company’s consolidated financial statements.
Share Repurchase Program
On June 11, 2024, the Company announced that the Board had approved a share repurchase program of up to US
Conference Call Information
The Company's management team will hold an earnings conference call at 07:00 A.M. Eastern Time on Tuesday, March 11, 2025 (07:00 P.M. Beijing Time on the same day) to discuss the financial results. Listeners may access the call by dialing the following numbers:
| International: | 1-412-902-4272 |
| United States Toll Free: | 1-888-346-8982 |
| Mainland China Toll Free: | 4001-201203 |
| Hong Kong Toll Free: | 800-905945 |
| Conference ID: | QuantaSing Group Limited |
The replay will be accessible through March 18, 2025 by dialing the following numbers:
| International: | 1-412-317-0088 |
| United States Toll Free: | 1-877-344-7529 |
| Replay Access Code: | 7982374 |
A live and archived webcast of the conference call will be available at the Company's investor relations website at https://ir.quantasing.com.
Non-GAAP Financial Measures
To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with U.S. GAAP, the Company uses gross billings of individual online learning services, adjusted net income and basic and diluted adjusted net income per share as its non-GAAP financial measures. Gross billings of individual online learning services for a specific period represents revenues of the Company’s individual online learning services net of the changes in deferred revenues in such period, further adjusted by value-added tax in such period. Adjusted net income represents net income excluding share-based compensation expense. Basic and diluted adjusted net income per share represents adjusted net income attributable to QuantaSing Group Limited divided by weighted average number of ordinary shares outstanding during the periods used in computing adjusted net income per share, basic and diluted. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools, and when assessing the Company's operating performance, investors should not consider them in isolation, or as a substitute for revenue, net income, net income per share, basic and diluted or other consolidated statements of operations data prepared in accordance with U.S. GAAP. The Company's definition of non-GAAP financial measures may differ from those of industry peers and may not be comparable with their non-GAAP financial measures.
The Company mitigates these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company's performance. For more information on these non-GAAP financial measures, please see the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” near the end of this release.
Exchange Rate Information
This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.2993 to US
Safe Harbor Statements
This announcement contains forward-looking statements within the meaning of Section 27A of Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1955. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding QuantaSing’s financial outlook, beliefs and expectations. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases, and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies; its future business development, results of operations and financial condition; its ability to attract and retain new users and learners and to increase the spending and revenues generated from users and learners; its ability to maintain and enhance the recognition and reputation of its brand; its expectations regarding demand for and market acceptance of its services and products; the expected growth, trends and competition in the markets that the Company operates in; changes in its revenues and certain cost or expense items; PRC governmental policies and regulations relating to the Company’s business and industry, general economic and political conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the SEC, including, without limitation, the final prospectus related to the IPO filed with the SEC dated January 24, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.
About QuantaSing Group Limited
QuantaSing is a leading lifestyle solution provider empowering adults to live better and longer. Leveraging its profound understanding of adult users and robust infrastructure, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners as well as consumer products and services in selected areas to address the senior users’ aspirations for wellness.
For more information, please visit: https://ir.quantasing.com.
Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857
Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
__________________________
1 Gross billings of individual online learning services is a non-GAAP financial measure. For a reconciliation of revenues of individual online learning services to gross billings of individual online learning services, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
2 Adjusted net income is a non-GAAP financial measure. For a reconciliation of net income to adjusted net income, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
3 Effective from the fourth quarter of FY 2024, the Company has introduced “Revenues from Consumer Business” as a separate line item. This revenue was previously included in “Revenues from Others”. The historical revenues presentation has been conformed to the current presentation.
4 Basic and diluted adjusted net income per share are non-GAAP financial measures. For a reconciliation of basic and diluted net income per share to basic and diluted adjusted net income per share, see the “Non-GAAP Financial Measures” section and the table captioned “QuantaSing Group Limited Unaudited Reconciliation of GAAP and Non-GAAP Results” below.
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands, except for share and per share data) | |||||
| As of | |||||
| June 30, 2024 | December 31, 2024 | December 31, 2024 | |||
| RMB | RMB | US$ | |||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | 779,931 | 1,094,762 | 149,982 | ||
| Restricted cash | 160 | 1,174 | 161 | ||
| Short-term investments | 246,195 | 117,285 | 16,068 | ||
| Accounts receivable, net | 16,676 | 16,403 | 2,247 | ||
| Amounts due from related parties | 4,488 | - | - | ||
| Inventory, net | 6,345 | 13,398 | 1,836 | ||
| Prepayments and other current assets | 275,549 | 157,802 | 21,620 | ||
| Total current assets | 1,329,344 | 1,400,824 | 191,914 | ||
| Non-current assets: | |||||
| Property and equipment, net | 6,569 | 5,032 | 689 | ||
| Long-term investments | 9,010 | 35,776 | 4,901 | ||
| Intangible assets, net | - | 59 | 8 | ||
| Operating lease right-of-use assets | 58,889 | 37,205 | 5,097 | ||
| Deferred tax assets | 847 | 2,014 | 276 | ||
| Other non-current assets | 21,360 | 6,102 | 836 | ||
| Total non-current assets | 96,675 | 86,188 | 11,807 | ||
| TOTAL ASSETS | 1,426,019 | 1,487,012 | 203,721 | ||
| LIABILITIES | |||||
| Current liabilities: | |||||
| Accounts payables | 62,066 | 46,301 | 6,343 | ||
| Accrued expenses and other current liabilities | 190,508 | 197,866 | 27,108 | ||
| Income tax payable | 20,399 | 51,966 | 7,119 | ||
| Contract liabilities, current portion | 385,227 | 304,788 | 41,756 | ||
| Advance from customers | 162,257 | 122,815 | 16,826 | ||
| Operating lease liabilities, current portion | 49,099 | 45,021 | 6,168 | ||
| Total current liabilities | 869,556 | 768,757 | 105,320 | ||
| Non-current liabilities: | |||||
| Contract liabilities, non-current portion | 11,365 | 28,057 | 3,844 | ||
| Operating lease liabilities, non-current portion | 16,989 | 2,443 | 335 | ||
| Deferred tax liabilities | 11,625 | 23,765 | 3,256 | ||
| Total non-current liabilities | 39,979 | 54,265 | 7,435 | ||
| TOTAL LIABILITIES | 909,535 | 823,022 | 112,755 | ||
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - continued (Amounts in thousands, except for share and per share data) | ||||||||
| As of | ||||||||
| June 30, 2024 | December 31, 2024 | December 31, 2024 | ||||||
| RMB | RMB | US$ | ||||||
| SHAREHOLDERS’ EQUITY | ||||||||
| Class A ordinary shares | 81 | 81 | 11 | |||||
| Class B ordinary shares | 34 | 34 | 5 | |||||
| Treasury stock | (109,257 | ) | (46,363 | ) | (6,352 | ) | ||
| Additional paid-in capital | 1,192,474 | 1,067,975 | 146,312 | |||||
| Accumulated other comprehensive income | 17,313 | 18,780 | 2,573 | |||||
| Accumulative deficit | (584,161 | ) | (376,717 | ) | (51,610 | ) | ||
| TOTAL QUANTASING GROUP LIMITED SHAREHOLDERS’ EQUITY | 516,484 | 663,790 | 90,939 | |||||
| Non-controlling interests | - | 200 | 27 | |||||
| TOTAL SHAREHOLDERS’ EQUITY | 516,484 | 663,990 | 90,966 | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 1,426,019 | 1,487,012 | 203,721 | |||||
| QUANTASING GROUP LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Amounts in thousands, except for shares and per share data) | |||||||||||||||||
| For the Three Months Ended December 31, | For the Six Months Ended December 31, | ||||||||||||||||
| 2023 | 2024 | 2024 | 2023 | 2024 | 2024 | ||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||
| Revenues | 980,542 | 726,647 | 99,550 | 1,849,678 | 1,537,051 | 210,575 | |||||||||||
| Cost of revenues | (145,018 | ) | (122,512 | ) | (16,784 | ) | (263,210 | ) | (256,960 | ) | (35,203 | ) | |||||
| Gross Profit | 835,524 | 604,135 | 82,766 | 1,586,468 | 1,280,091 | 175,372 | |||||||||||
| Operating expenses: | |||||||||||||||||
| Sales and marketing expenses | (657,112 | ) | (407,022 | ) | (55,762 | ) | (1,277,264 | ) | (922,031 | ) | (126,318 | ) | |||||
| Research and development expenses | (41,015 | ) | (28,354 | ) | (3,884 | ) | (84,815 | ) | (56,434 | ) | (7,731 | ) | |||||
| General and administrative expenses | (35,059 | ) | (30,524 | ) | (4,182 | ) | (77,821 | ) | (61,145 | ) | (8,377 | ) | |||||
| Total operating expenses | (733,186 | ) | (465,900 | ) | (63,828 | ) | (1,439,900 | ) | (1,039,610 | ) | (142,426 | ) | |||||
| Income from operations | 102,338 | 138,235 | 18,938 | 146,568 | 240,481 | 32,946 | |||||||||||
| Other income: | |||||||||||||||||
| Interest income | 2,409 | 1,221 | 167 | 5,856 | 3,160 | 433 | |||||||||||
| Others, net | 2,221 | 6,283 | 861 | 14,478 | 16,018 | 2,194 | |||||||||||
| Income before income tax | 106,968 | 145,739 | 19,966 | 166,902 | 259,659 | 35,573 | |||||||||||
| Income tax benefit/(expense) | 642 | (18,983 | ) | (2,601 | ) | 7,388 | (52,215 | ) | (7,153 | ) | |||||||
| Net income | 107,610 | 126,756 | 17,365 | 174,290 | 207,444 | 28,420 | |||||||||||
| Net loss attributable to noncontrolling interests | - | - | - | - | - | - | |||||||||||
| Net income attributable to QuantaSing Group Limited | 107,610 | 126,756 | 17,365 | 174,290 | 207,444 | 28,420 | |||||||||||
| Other comprehensive (loss)/income | |||||||||||||||||
| Foreign currency translation adjustments, net of nil tax | (3,372 | ) | 5,013 | 687 | (5,377 | ) | 1,467 | 201 | |||||||||
| Total other comprehensive (loss)/income | (3,372 | ) | 5,013 | 687 | (5,377 | ) | 1,467 | 201 | |||||||||
| Total comprehensive income | 104,238 | 131,769 | 18,052 | 168,913 | 208,911 | 28,621 | |||||||||||
| Total comprehensive loss attributable to noncontrolling interests | - | - | - | - | - | - | |||||||||||
| Comprehensive income attributable to QuantaSing Group Limited | 104,238 | 131,769 | 18,052 | 168,913 | 208,911 | 28,621 | |||||||||||
| Net income per ordinary share | |||||||||||||||||
| - Basic | 0.65 | 0.78 | 0.11 | 1.04 | 1.30 | 0.18 | |||||||||||
| - Diluted | 0.64 | 0.77 | 0.11 | 1.02 | 1.27 | 0.17 | |||||||||||
| Weighted average number of ordinary shares used in computing net income per share | |||||||||||||||||
| - Basic | 165,369,914 | 162,250,442 | 162,250,442 | 167,213,449 | 159,347,748 | 159,347,748 | |||||||||||
| - Diluted | 167,356,510 | 165,374,240 | 165,374,240 | 171,180,058 | 163,341,734 | 163,341,734 | |||||||||||
| Share-based compensation expenses included in | |||||||||||||||||
| Cost of revenues | (3,289 | ) | (1,480 | ) | (203 | ) | (7,067 | ) | (3,783 | ) | (518 | ) | |||||
| Sales and marketing expenses | 15,946 | (859 | ) | (118 | ) | 11,457 | (898 | ) | (123 | ) | |||||||
| Research and development expenses | (1,402 | ) | (409 | ) | (56 | ) | (7,012 | ) | (2,307 | ) | (316 | ) | |||||
| General and administrative expenses | (7,513 | ) | (2,470 | ) | (338 | ) | (20,922 | ) | (5,502 | ) | (754 | ) | |||||
| QUANTASING GROUP LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Amounts in thousands, except for shares and per share data) | |||||||||||||||||
| The following table below sets forth a reconciliation of revenues to gross billings for the periods indicated: | |||||||||||||||||
| For the Three Months Ended December 31, | For the Six Months Ended December 31, | ||||||||||||||||
| 2023 | 2024 | 2024 | 2023 | 2024 | 2024 | ||||||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | ||||||||||||
| Revenues of individual online learning services: | 873,551 | 601,293 | 82,377 | 1,629,461 | 1,310,305 | 179,510 | |||||||||||
| Add: value-added tax | 47,100 | 33,359 | 4,570 | 94,679 | 74,050 | 10,145 | |||||||||||
| Add: ending deferred revenues(1) | 643,929 | 440,632 | 60,366 | 643,929 | 440,632 | 60,366 | |||||||||||
| Less: beginning deferred revenues(1) | (619,954 | ) | (529,054 | ) | (72,480 | ) | (661,360 | ) | (565,030 | ) | (77,409 | ) | |||||
| | |||||||||||||||||
| Gross billings of individual online learning services | 944,626 | 546,230 | 74,833 | 1,706,709 | 1,259,957 | 172,612 | |||||||||||
| (1) Deferred revenues include contract liabilities, advance from customers, and refund liability of individual online learning services included in “accrued expenses and other current liabilities”. | |||||||||||||||||
| QUANTASING GROUP LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS - continued (Amounts in thousands, except for shares and per share data) | ||||||||||||||
| The following table below sets forth a reconciliation of net income to adjusted net income and basic and diluted net income per share to basic and diluted adjusted net income per share for the periods indicated: | ||||||||||||||
| For the Three Months Ended December 31, | For Six Months Ended December 31, | |||||||||||||
| 2023 | 2024 | 2024 | 2023 | 2024 | 2024 | |||||||||
| RMB | RMB | US$ | RMB | RMB | US$ | |||||||||
| Net income | 107,610 | 126,756 | 17,365 | 174,290 | 207,444 | 28,420 | ||||||||
| Add: Share-based compensation expenses | (3,742 | ) | 5,218 | 715 | 23,544 | 12,490 | 1,711 | |||||||
| | ||||||||||||||
| Adjusted net income | 103,868 | 131,974 | 18,080 | 197,834 | 219,934 | 30,131 | ||||||||
| Attributable to noncontrolling interests | - | - | - | - | - | - | ||||||||
| Adjusted net income attributable to QuantaSing Group Limited | 103,868 | 131,974 | 18,080 | 197,834 | 219,934 | 30,131 | ||||||||
| Weighted average number of ordinary shares used in computing net income per share | ||||||||||||||
| - Basic | 165,369,914 | 162,250,442 | 162,250,442 | 167,213,449 | 159,347,748 | 159,347,748 | ||||||||
| - Diluted | 167,356,510 | 165,374,240 | 165,374,240 | 171,180,058 | 163,341,734 | 163,341,734 | ||||||||
| Weighted average number of ordinary shares used in computing adjusted net income per share | ||||||||||||||
| - Basic | 165,369,914 | 162,250,442 | 162,250,442 | 167,213,449 | 159,347,748 | 159,347,748 | ||||||||
| - Diluted | 167,356,510 | 165,374,240 | 165,374,240 | 171,180,058 | 163,341,734 | 163,341,734 | ||||||||
| Net income per ordinary share | ||||||||||||||
| - Basic | 0.65 | 0.78 | 0.11 | 1.04 | 1.30 | 0.18 | ||||||||
| - Diluted | 0.64 | 0.77 | 0.11 | 1.02 | 1.27 | 0.17 | ||||||||
| Non-GAAP adjustments to net income per ordinary share | ||||||||||||||
| - Basic | (0.02 | ) | 0.03 | 0.00 | 0.14 | 0.08 | 0.01 | |||||||
| - Diluted | (0.02 | ) | 0.03 | 0.00 | 0.14 | 0.08 | 0.01 | |||||||
| Adjusted net income per ordinary share | ||||||||||||||
| - Basic | 0.63 | 0.81 | 0.11 | 1.18 | 1.38 | 0.19 | ||||||||
| - Diluted | 0.62 | 0.80 | 0.11 | 1.16 | 1.35 | 0.18 | ||||||||
FAQ
What were QuantaSing's (QSG) Q2 FY2025 revenue and net income figures?
How much did QSG's individual online learning services revenue decline in Q2 FY2025?
What is the status of QSG's share repurchase program as of December 2024?
How much cash and equivalents did QSG have as of December 31, 2024?
What was QSG's user growth in Q2 FY2025?
